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Icahn-Financed Group Boosts Offer for TWA

Icahn-Financed Group Boosts Offer for TWA

 
Old Mar 8, 01, 5:25 pm
  #1  
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Icahn-Financed Group Boosts Offer for TWA

It's not over till it's over...

"The group, headed by investment banker Brian Freeman, said the new offer adds $480 million in financing over its earlier bid, giving it over $1.1 billion in financing commitments.

Those include $750 million in operating loans, a commitment to purchase $150 million in preferred stock over three years, a commitment to provide bridge financing
until the sale of TWA's 26 percent stake in the Worldspan LP travel reservations computer system, and a $30 million commitment to fund employee training."
http://biz.yahoo.com/rb/010308/busin..._icahn_dc.html
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Old Mar 8, 01, 5:46 pm
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AA Statement on Icahn Transaction: http://www.amrcorp.com/Icahn.htm
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Old Mar 8, 01, 6:09 pm
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Ouch.
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Old Mar 9, 01, 4:44 pm
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Judge Walsh extends TWA hearing on AMR bid to Saturday...
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Old Mar 9, 01, 6:02 pm
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AP Online via COMTEX

"Your two-page proposal, quite frankly, is almost a joke and it was submitted after the bid proposal deadline," Walsh told a lawyer for TWA Acquisition Group at the end of a daylong hearing.

At another point, the judge added, "The only proposal on the table with respect to the bid procedure is the one by American."

The hearing is scheduled to resume Saturday morning, with testimony from TWA president and CEO William F. Compton.


[This message has been edited by Eugene (edited 03-09-2001).]
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Old Mar 10, 01, 9:27 am
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Let's hope da judge see the light today and makes a definiteive ruling.

What then?
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Old Mar 10, 01, 7:28 pm
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Doc,

What happened with the TWA judge today?
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